VoterlyH.J.Res. 25: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".
119th Congress · Sponsored from Ohio · Became law
What this bill does
This joint resolution nullifies requirements for persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the Internal Revenue Service (IRS). Specifically, the joint resolution nullifies the requirements included in the rule titled Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales and issued by the IRS on December 30, 2024. Decentralized finance refers to the suite of financial activities and services that are facilitated by cryptocurrency and intended to be conducted without any sort of reliance on traditional financial tools or intermediaries.
Key facts
- Status Became law
- Introduced 2025-01-21
- Policy area Taxation
- Cosponsors 9
- Latest action Became Public Law No: 119-5.
Sponsor
Who funds the sponsor?
Rep. Carey, Mike [R-OH-15] introduced H.J.Res. 25. On Voterly you can see their top campaign donors from public Federal Election Commission records — individuals, PACs, and industry groups (follow the money) — and compare that with how they vote.
See Rep. Carey, Mike [R-OH-15]'s donors & voting record →
Campaign donations show who helps fund the sponsor's election; they are not the same as who drafted or lobbied for the bill text. Lobbying disclosures are separate public records.
Take a position & compare alignment
Agree or disagree with H.J.Res. 25? Go to the homepage to record your view and compare your stance with how your representatives vote. See Rep. Carey, Mike [R-OH-15]'s profile to vote on their bills and check your alignment % with the sponsor.
Read the official text on Congress.gov →
Frequently asked questions
What does H.J.Res. 25 do?
This joint resolution nullifies requirements for persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the Internal Revenue Service (IRS). Specifically, the joint resolution nullifies the requirements inclu…
Who sponsored H.J.Res. 25?
Rep. Carey, Mike [R-OH-15] (R) of Ohio is the lead sponsor.
How do I find out who funds or lobbies for H.J.Res. 25?
Campaign-finance records (Federal Election Commission) show who funds the bill's sponsor. Separately, federal lobbying disclosures filed under the Lobbying Disclosure Act list the companies and lobbyists who reported lobbying on specific bills. Voterly links the sponsor's donors; lobbying records are public at the U.S. Senate and House lobbying databases.
Is H.J.Res. 25 now law?
Yes — the latest action indicates H.J.Res. 25 became law.